In terms of GoI notification F. No. 4(8) - W&M/2017 and RBI circular IDMD.CDD.No.2760/14.04.050/2016-17 dated April 20, 2017, the Sovereign Gold Bond Scheme 2017-18 - Series I will be opened for subscription for the period from April 24, 2017 to April 28, 2017. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the week preceding the subscription period, i.e. April 17-21, 2017 works out to ₹ 2951/- per gram. Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹ 50 per gram on the nominal value of the Sovereign Gold Bond. Hence, the issue price of Gold Bond for this tranche has been fixed at ₹ 2901 /- (Rupees Two Thousand Nine Hundred One only) per gram of gold.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2863